Biotech Values

[DewDiligence]

PRTO reverse-merges into ArTara Therapeutics:

https://www.globenewswire.com/news-release/2019/09/23/1919503/0/en/Proteon-Therapeutics-and-ArTara-Therapeutics-Agree-to-Combine.html

Proteon Therapeutics, Inc. (Nasdaq: PRTO…and ArTara Therapeutics, Inc., a private clinical stage biopharmaceutical company developing treatments for rare and specialty diseases with significant unmet therapeutic needs, announced today that they have entered into a definitive agreement in which a wholly-owned subsidiary of Proteon will merge with ArTara in an all-stock transaction. The merged company will focus on advancing ArTara’s pipeline of transformative late-stage, de-risked rare and specialty diseases assets.

Upon stockholder approval, the combined company is expected to operate under the name ArTara Therapeutics, Inc. and trade on the Nasdaq Capital Market under the ticker symbol TARA.

…Under the terms of the merger agreement, on a pro-forma basis after closing of the merger and the closing of the financing, the current Proteon stockholders will own approximately 10% of the combined company, while ArTara security holders and new investors will own approximately 90% (on a fully diluted basis).